Category: Tax and Financial News

When Is A Loan Not A Loan?

With the sweeping new tax legislation in 2018 capturing everyone’s attention, other changes have taken a back seat. There were several Tax Court cases in 2018 that rendered important decisions impacting how things work – one of which was Povolny Group, Inc. v. Commissioner, T.C. Memo 2018-37. The Povolny Group decision centers on a common issue … Continue reading “When Is A Loan Not A Loan?”

Divorce Can Be Taxing

Divorce is expensive. Aside from the emotional toll divorce takes on a family, both the process and aftermath of a divorce can be costly. Below we look at some of the steps people can take to help remove the tax sting out of an already challenging time and arrive at the best financial position. Changes … Continue reading “Divorce Can Be Taxing”

What’s the Best Type of Business Entity for Tax Purposes

There are several major types of business entities, including S Corporations, C Corporations, Limited Liability Companies (LLCs) and being self-employed. Each type of structure has its own advantages and disadvantages when it comes to taxes, assets and liability protection. Generally, certain types of businesses are best for certain professions from a tax perspective; however, with … Continue reading “What’s the Best Type of Business Entity for Tax Purposes”

 
 
 
 

 

 
 
 

HOLMES & SWAFFORD CPAs

MURFREESBORO

820 N. Thompson Lane
Suite 1E
Murfreesboro, TN 37129

615-295-2782 Murfreesboro

Email: tim@holmesswafford.com

MOUNT JULIET - NOW OPEN!

1982 Providence Parkway
Suite 255
Mount Juliet, TN 37122

615-758-5055 Mount Juliet

Email: kevin@holmesswafford.com

For more information click here